With the aim of nurturing micro and small businesses, the Ministry of Business is working assiduously to open the Belvedere Business Incubator Facility at Belvedere Industrial Estate, Region Six by March.

Minister of Business, Dominic Gaskin made this announcement during a visit to the site on Friday. He said more than $116 Million have been invested in this project, which will assist small businesses to start up their operations for the first three years so that they can be sustained afterwards.

“The purpose of the incubators – as you can see there are six pods and a multi-purpose room in the centre – will provide temporary workspace for small business until they become independent. In the incubators …we are supporting all types of business, once you have a business plan,” Minister Gaskin said.

The Incubator Facility with the six pods constructed to give small business a push start.

Minister of Business, Dominic Gaskin speaks to the Department of Public Information at the Belvedere Industrial Estate, Incubator Facility, Region six.

The Minister further added that the facility will be furnished with basic equipment to better assist persons to get off their businesses up and running.

Budding entrepreneurs will be offered room space, training, marketing, consulting, organization and management as well as legal, financial and other advisory services upon application for the use of the facility. The Minister said his ministry has done the research on the need for such a facility and similar facilities are expected to be constructed across the country.

“We will advertise and set out some specific requirements and criteria, everyone will be able to know what is required in advance. Systems will be put in place for smooth flow at the facility.”

Minister Gaskin said that the construction of another Incubator facility in Lethem is not yet complete since that facility is larger and consists of 12 pods and a larger Multi-purpose area. The Minister emphasised that the Ministry of Business has started an evaluation process to finalise an operational plan at the Belvedere Incubator Centre before commissioning.

In early 2018, the Ministry of Business was allotted a total sum of $350 Million for completing work at the Incubator Facilities at the Lethem Industrial Estate, Region Nine and Belvedere Industrial Estate, Region Six. In October 2018 a further $193Million was approved by the National Assembly. The Business Minister had explained that the supplementary amount was needed due to the significant advancement of infrastructural works and the need for an additional access road to the Business Incubator at Lethem.

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